Stonegate Investment Group LLC increased its stake in Visa Inc. (NYSE:V - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 349,122 shares of the credit-card processor's stock after purchasing an additional 5,024 shares during the period. Visa accounts for 3.3% of Stonegate Investment Group LLC's portfolio, making the stock its 9th largest holding. Stonegate Investment Group LLC's holdings in Visa were worth $122,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the stock. Perfromance Wealth Partners LLC grew its holdings in Visa by 0.5% during the 1st quarter. Perfromance Wealth Partners LLC now owns 55,738 shares of the credit-card processor's stock worth $19,534,000 after acquiring an additional 287 shares during the period. Mayport LLC grew its holdings in Visa by 96.8% during the 1st quarter. Mayport LLC now owns 1,958 shares of the credit-card processor's stock worth $686,000 after acquiring an additional 963 shares during the period. Worth Financial Advisory Group LLC grew its holdings in Visa by 21.8% during the 1st quarter. Worth Financial Advisory Group LLC now owns 4,308 shares of the credit-card processor's stock worth $1,510,000 after acquiring an additional 772 shares during the period. Rockline Wealth Management LLC grew its holdings in Visa by 4.9% during the 1st quarter. Rockline Wealth Management LLC now owns 26,153 shares of the credit-card processor's stock worth $9,165,000 after acquiring an additional 1,226 shares during the period. Finally, Covea Finance grew its holdings in Visa by 28.1% during the 1st quarter. Covea Finance now owns 226,018 shares of the credit-card processor's stock worth $79,210,000 after acquiring an additional 49,597 shares during the period. Institutional investors own 82.15% of the company's stock.
Visa Stock Down 0.7%
NYSE V traded down $2.34 on Friday, reaching $338.04. The company had a trading volume of 19,326,861 shares, compared to its average volume of 7,042,416. The firm has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The company's fifty day moving average is $351.78 and its 200-day moving average is $338.94.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.70%. Visa's dividend payout ratio (DPR) is presently 23.72%.
Wall Street Analyst Weigh In
V has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Piper Sandler boosted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group boosted their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, Macquarie decreased their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $372.80.
Check Out Our Latest Report on Visa
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 in the last three months. 0.13% of the stock is currently owned by corporate insiders.
About Visa
(
Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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